The energy transition partnership JETP between several developed countries and Indonesia has serious problems: The schedule is delayed, it lacks correct data and transparency, and the goals are apparently too ambitious. Now, even money intended for green investments could flow into coal power. Read the full article here:
https://go.table.media/PeDL1
The project was launched almost a year ago as one of the beacons of the international energy transition. But the Just Energy Transition Partnership (JETP) between Indonesia and the donors of the International Partners Group (IPG) is struggling with problems: The program is delayed, lacks transparency and suffers from calculation errors, while important sectors are not covered by the JETP.
This could also lead to new investments in coal being labeled as green capital. Experts see the problems as a reminder to better prepare energy transition partnerships in the future. Indonesia and donor countries under the International Partners Group (IPG), led by the US and Japan, launched the Just Energy Transition Partnership (JETP) during the G20 Bali Summit in November 2022 with a commitment to provide 20 billion US dollars (about 310 trillion Indonesian rupiah), half from public and half from private funds. The Glasgow Financial Alliance for Net Zero (GFANZ) will coordinate the funding.
Journalists work at the media center for the 17th Group of 20 (G20) Summit in Bali, Indonesia
Indonesia agreed to:
- Peak its carbon emissions in the power sector by 2030. They are then expected to be at 290 million tonnes of CO2. That would be seven years earlier than planned and with a peak well below the previously planned 357 million tons.
- Achieve net zero in the power sector by 2050.
- Cover 34 percent of the total energy demand from renewables by 2030, instead of only 16 percent as previously planned.
- Not to build any new coal-fired power plants.
Now, the project is delayed. The joint statement states that a JETP investment and policy plan would be made public six months after the launch. However, the six-month countdown began when the JETP Secretariat was launched in February 2023, moving the date to August 2023.
Read the full article here:
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How could this be such a failure? This is scary....
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Under no circumstances should we be having new investments in coal
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This article underscores the importance of robust frameworks and accountability in energy transition partnerships to achieve climate goals effectively.🌍💡 #GreenInvestments #EnergyTransition
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This is bad... We need international agreements on green capital, so a (strict) definition can be set!
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The machine must be stopped
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This is absurd.
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The Just Energy Transition Partnership (JETP) between Indonesia and its donor countries, while initially promising, faces serious issues such as delays, lack of transparency, and ambitious goals. These challenges may inadvertently pave the way for investments in coal to be labeled as green capital, a concerning setback in the fight against climate change. It underscores the need for better preparation and oversight in energy transition partnerships, emphasizing the importance of ensuring that funds intended for green initiatives are directed towards genuinely sustainable solutions. Read the full article for detailed insights. 🌍🌿 #ClimateAction #Sustainability